Recent Telecommunication Corporation News
4.12.97 - Tyco International Ltd. said it agreed to buy AT&T Corp.’s underwater telecommunications cable business for about $850M
5.27.97 - Wall Street Journal reports AT&T and SBC in $50B merger talks (talks break down after a few weeks)
6.18.97 - Philips Electronics and Lucent Technologies merge consumer telecommunication equipment operations to create worlds largest supplier of telephones with $2.5B in sales
7.7.97 - US Justice Department clears $24B purchase of MCI Communications by British Telecommunications. New company called Concert would have annual revenue of $43B from operations in 72 countries.
8.22.97 - British Telecommunications lowers MCI purchase price to $17B after MCI reveals greater than expected cost of entering local US market.